In the midst of the downturn, I ran into some credit problems (like many others). I worked out help with Citibank for the credit card that was both my largest and oldest account, where they cut interest and automated small payments. They closed the account with the potential to reopen when it was paid down/things were better.

I am at the point where that is on the menu, and am wondering if the length of account (5 years more than my next oldest) or the credit utilization impact (it is twice as large as my next biggest card) make this worth pursuing.

Interested in thoughts, or in knowing what data I should be looking for to do the math.

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